The Monetary Policy Committee (MPC) of the Reserve Bank of Zimbabwe met on 27 September 2024 to deliberate on recent macroeconomic and financial developments and economic outlook.

The MPC noted that the economy experienced relative stability in the economy, from 5 April to mid-August 2024. As a result, month-on-month inflation averaged -0.82% for the three months from May to July 2024. The economy has, however, experienced a resurgence in exchange rate pressures since the second half of August 2024, as reflected by the widening parallel market exchange rate premium, and the increase in inflationary pressures. Consequently, monthly inflation increased to 1 .4% in August 2024, and is likely to be higher for September 2024. The increase in parallel market exchange rate volatility is despite the increase in foreign currency inflows for the first 8 months to August 2024 of US$8,465 million, reflecting an increase of 13.4%, compared to US$7,468 million in 2023.